History of Our CU
Date Posted: Jun 25, 2014

For a number of years, the community of Raymore was without any banking service.  For this reason, a few interested people gathered together on November 25, 1949 to organize a credit union.

 

At that meeting, the Raymore Savings and Credit Union Limited was organized and elected a board of seven members.  Those who served on the board were Fred Potts, Arthur Worth, Frank J. Hofmeister, J.E. Whitlock, William Berkan, Emil Kirstein and

C. W. Lintott.

 

The first credit committee appointed was Nick J. Focht, John Potts and Norman Pollard.

The first supervisory committee elected consisted of Don Benson, Hans Wulff and Robert Orthner.

 

At first we had no building, so under the management of Frank Hofmeister, our first transactions were carried out at the rear of the Co-op store.  John Potts had the honor of having Account #1 and C.W. Lintott had Account #2.

 

At our first annual meeting, held in March 1950, the report of the financial statement from November 25, 1949 to December 31, 1949 (a one month period) showed $4847.75 in assets and total expenses of $59.03.  There were 40 people in attendance.

 

In 1950 our credit union had been in operation a little over a year.  Our membership was up to 126 and our assets totaled $28,806.

 

In 1953 the board decided to move from the Co-op store into our first office - a room in a building that was on the site of the present Co-op store.  Also, in January of that same year, Lucy Grymaloski became our first full time Secretary Manager.  In May the next year, Lucy married and Ken Edwards came to the credit union from Stern Motors to take over the management of our credit union. 

 

Every year brought continuous growth.  By 1957 it was felt that this one room office was too small and the decision was made to purchase and renovate the old Bank of Montreal building.  In 1964 the credit union reached the one million mark in assets.

 

Raymore’s first ATM was installed in 1987 and electronic transactions have increased continually.

 

As assets increased, the staff grew, until once again, a larger building was required.  In 1972 the board decided to build the present modern building.  The official opening took place in March 1973.  In 1992 the building received a complete facelift. 

 

Ken Edwards retired in 1993 and Colin Markusson filled the General Manager position for 12 years.  During this period, the Punnichy Bank of Montreal branch was acquired in 2000 and in 2005 Dysart credit union amalgamated with Raymore.  Colin retired in 2005 and Darren Frisko joined the staff as General Manager in 2006.

 

In 2008 a much needed building addition and complete renovation became an exciting reality.

 

Raymore Credit Union believes in our community.  We take pride in the ability to support various charitable, volunteer and community organizations that allow our communities to flourish.  By developing the Growing Communities program in 2009, we have created a legacy of community based projects, providing our communities with a strong foundation to build upon.  Our current members and the generations to come will benefit. 

 

Today we can look back on 65 years of continuous growth.  Today there are over 3000 members.  From a staff of one, we now employ twenty two.  At our first annual meeting, our assets were almost $5000 and now our total assets are over 100 million.

 

From a meager beginning in November 1949 by a group of Raymore and community citizens, our credit union has grown into an organization that we are very proud of.

 

 

 

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